For while lenders may be introducing more and more services in the region, there is increasing backlash against ever-rising service charges.

According to a recent report by Emirates Business, lenders are sneaking in a number of new charges. The Royal Bank of Scotland has a new AED10 monthly maintenance fees on its ‘free-for-life’ credit cards; Mashreq is tipped to follow suit with a similar charge; HSBC UAE introduced an AED25 fee for over-the-counter credit card payments last December.

Are banks’ high service charges justified? After all, it’s only recently that we’ve been offered debit cards, which have been around since the 1960s.

Some banks are addressing this. For example, HSBC UAE is about to launch its long-promised debit cards, to replace ATM cards, which can’t be used to make purchases. The new cards include Chip & PIN, and Visa payWave technology – also commonplace in other markets, but new here.